The corporate debt facility will be composed of a $300 million, 6-year senior secured term loan B (“Term Loan”) and a $60 million, 5-year senior secured working capital facility (“Working Capital Facility”). Proceeds of the Term Loan will be used to fully repay existing corporate level debt, fund a cash distribution to Terra-Gen, partially fund the debt service reserve, and pay transaction fees and expenses. The Working Capital Facility will be used to issue letters of credit for the Borrower, its subsidiaries, and certain other affiliates, as well as for partially funding the debt service reserve.
Goldman Sachs Lending Partners LLC and Credit Suisse Securities (USA) LLC will serve as joint lead arrangers, joint book-runners and syndication agents for the transaction.
ABOUT TERRA-GEN POWER, LLC:
Terra-Gen is an affiliate of ArcLight Capital Partners and Global Infrastructure Partners. With more than 1,550 MWs of generating capacity in operation across 26 renewable power facilities, and with 5,000 MWs in development, Terra-Gen Power is one of the nation’s leading renewable energy providers and the only American company that provides electricity on a utility scale from three major renewable energy sources: wind, solar and geothermal power. Terra-Gen is headquartered in New York City with offices in San Diego, Reno, Denver, and Charlotte.
ABOUT ARCLIGHT CAPITAL PARTNERS:
ArcLight is one of the world's leading energy investment firms with more than $6.8 billion under management. ArcLight's investment team has extensive energy investing experience, industry relationships, and asset level knowledge. ArcLight is one of the most experienced renewable power investors having made its initial investment in Terra-Gen Power’s predecessor company in 2002. ArcLight is headquartered in Boston, Massachusetts with offices in New York City, London and Luxembourg. More information about ArcLight can be found at http://www.arclightcapital.com.
ABOUT GLOBAL INFRASTRUCTURE PARTNERS:
GIP is an independent infrastructure fund that invests worldwide in infrastructure assets and businesses in both OECD and selected emerging market countries. GIP has offices in New York and London with an affiliate in Sydney and portfolio business operations headquarters in Stamford, Connecticut. For more information, visit www.global-infra.com.